I am buying a newly built apartment in Suffolk and my lawyer is telling me that she is duty bound to the mortgage company to disclose incentives from the seller. I am on a tight deadline to sign contracts and I would rather not delay the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
My wife and I have recently appointed a conveyancing solicitor in Suffolk. I I would like to check whether they are accepted on the Chelsea Building Society approved list of lawyers. Can you or the lender confirm if they are on the panel?
The first thing to do is contact your lawyer and enquire if they can act for the bank. Otherwise you should get in touch with Chelsea Building Society who may be able to assist.
3 months have gone by since my purchase conveyancing in Suffolk took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
The estate agent has sent us the confirmation of our purchase of a new build flat in Suffolk. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Suffolk
Please supply a car parking plan. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
Do I stop the direct debit for my mortgage with Santander as soon as a completion date for my home sale in Suffolk has been agreed?
No, you should maintain meeting any mortgage sums to Santander until the mortgage is repaid out of the proceeds of sale as part of your Suffolk conveyancing.